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This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

if for ETH fees like that it is the standard for withdrawals, actually there are many ways to withdraw that are cheaper than ETH such as XLM, TRX, and DOGE three of them I feel that in any market it will still be cheap the cost of withdrawals

It caused by the price of major coins are getting an increase. The exchange site was taking it into the fiat value to determine how much withdrawal fees that will be applied to the users. In this case, based on what already happened and exchange sites don't take or use crypto to calculate how much the withdrawal fees should be.
That's why they must adjust the withdrawal fees based on the fiat rate. It's normal when they are decreasing their withdrawal fees as the price of crypto is almost doubled since last months.

I think it because of the price increase in most of the cryptocurrency. They are just trying to stay with the USD value of the market so that traders will not be afraid to do transactions because of the high fees. Changelly reduces its fees from 0.50% to 0.25%.

I think this was all started when Binance reduced all its withdrawal fee on major coins then suddenly all of this top exchanges followed what Binance did. But still based on what I knew, Binance is the lowest withdrawal fee among all this exchanges. Its a good thing since they knew that bull run will come thats why they reduced all withdrawal fees.

Is this sort of marketing or promo? I didn't noticed that because I haven't traded for a while. Does anyone know how long did they already implemented this reduction to the withdrawal fees?

I don't know if there's a relation with the price increase of most crypto lately. But if they have been generous and that's one factor, it's a very good news.

Due to competition, they should reduce withdrawal fees more and also on BTC withdrawal fees should be reduced because every exchange withdrawal fees are almost above BTC 0.0005, so this is good befits for traders and investors.

I noticed the lowering of fees few weeks already in some exchanges. Its best if they can make it that fees will automatically adjust while BTC keeps going up. Binance take 0.005ETH every withdrawal of ETH which is worth $1.12 but 0.005ETH will be worth more soon when ETH price goes $250+.  

If exchange gets about millions of withdrawals a day, they'd be making millions a day as well. That makes team develop exchanges today and not new projects anymore.

It is due to the growing competition among exchanges because so many exchanges are coming up every month so its good for traders and investors, second reason could be the increase in Eth price to over 200 and if the bullish momentum continues Eth can break 500 mark in few months that will result in even lower fee.

Exchanges is facing major competition, especially with DEX's coming along nicely. While most DEX's is hardly used today, I'm sure a LOT of people will shift, once they realize that you can trade anonymously, with no KYC, no restrictions etc.

Blocknet recently exceeded $100k daily volume due to a huge OTC DIVI/BTC deal between 2 parties, completely trustless deal. I'm sure we'll see these sort of trades happen more often, and slowly see a lot of people using it more and more.

Exchange Business niche is facing some serious shit man, no wonder they make Fees Free months to solve that lol.
The Bear market (last couple months) killed most exchanges.
The exchange niches is becoming the worst niche to invest in unfortunately, it's already saturated, only the big ones you know now will survive & eat the whole market.

This is great news indeed for traders and investors. Binance eth withdrawal is currently 0.003eth. This is way better off than the 0.01 eth withdrawal fee previously being charged. This is incredible I must confess. Both big and small traders and investors will now comfortably transact in these exchanges without the fear of exorbitant transaction fees. Kudos to those exchanges who have just reviewed and reduced their transaction fees.

If this is true, then thats a beautiful job done by the top exchanges.
But i usually do not worry about the withdrawal fees, i usually convert to xlm or trx, but now that withdraw charges are cheaper, i can then withdraw etherum directly.

This will also increase trading activities (small $) in these exchange platforms that have slashed fees.

A healthy competition is really good in every Industry and these exchanges keeps leading the way. I think it was Binance that started it first followed by Okex. There are exchanges still maintaining their withdrawal fee. Also, this reduction in price can be arguably linked to the increase in price of various coins so it looks reasonable to reduce the price. Should there be a downtrend, they might likely increase it again. But my own interest is the fact they are having a healthy competition while putting things in place to accommodate all users thus maintaining their competitive advantages.

I didnt notice that because I usually using xrp when withdrawing because it has lesser fees but that great thanks for informing us, last 2019 did you notice it too some exchanges from omni usdt they switch to erc20 usdt I guess to reduce the fees. The adjustment on withdrawal fees happens when the value of an asset changes.

But the BTC fee is still expensive, most of exchangers fee for BTC is 50000 Satoshi since the blockchain wallet fee for BTC is only 500 satoshi. I think everyone will choose some cheap altcoins to withdraw their assets, like doge, xrp, trx ,etc. because it has a low fees.

I didn't think this exchange decrease the withdrawal fee, because only few months before Ethereum price was half than now. For Ethereum price up 2x, withdrawal fee down to 50 percent. Suppose if Ethereum hits 500 USD price ratio should down but USD always equal to withdraw rate.

Your choice is very smart because by using altcoin such as XRP and others, shipping costs are cheaper and transactions are also faster, so it's better to use altcoin instead of using bitcoin, which has very high transaction costs.

You are right,
Most of the people think that crypto exchanges generate a lot of income from exchange fees. But they actually take more profit from transection fees than exchange fees. Nowadays almost every exchange site takes a fee near around 7 usd flat fee for each transaction, if they pay 2 usd for the actual transaction fees then they earn 5 usd from us as withdrawal fee. I agree that crypto exchange needs a lot of money to let themselves alive but this is really a vast amount of funds they are taking from us.

It is good news. However here. actually there are several exchanges that give low transaction fees, especially for the withdrawal fee. There are some exchanges that have only 0.005 eth for a fee from the beginning. In my opinion, one of the reasons why they make the fee lower is that there are many other exchanges that compete with each other, the growing exchange is everywhere.
However, what is the service? Still okay or decreased?

We were discussing this subject not long time ago
It's time to reduce the fees and I'll go further,  exchanges should allow people to choose their fees, would be more fair to all, and I think this is totally possible to achieve
Sometimes people only leave money on exchange because it's expensive to send coins to wallet, and then again to exchange, and them this process again and again

And thinking that there are many users of that exchange. That means they earn large amount of btc daily thats why they can continue to opperate even in the bear market season.
I think widrawal fee of popular exchange should reduce thats a large funds taken for widrawal and honestly not all people widraw a large amount so its hurts them when they widraw thier money.

Great news, though I already try to batch my withdrawals from the exchanges that I trade on so the fees that I end up taking every transaction aren't very significant anyways. This might be an adjustment and a subtle encouragement for more people to start using the exchanges that have lowered their fees, or even just a little bit of competition between some exchanges' withdrawal fees, but it's good anyways.


There's most likely no decrease in service quality from exchanges as a result of this lowering of fees. Wouldn't make much sense for them to degrade service just to lower fees.

Nope you are wrong, kucoin bitcoin withdrawal fee is now lesser at 0.0004 BTC and for Ethereum its now 0.003ETH which is extremely low compare to other top exchanges, I now find kucoin to be a better choice for trading because of these cheaper fees

Its good to finally see some top exchange reducing withdrawal fee, I hope HITBTC exchange will join the train as well, they have ridiculous fee on HITBTC till date but what will happen if bitcoin reach 20k per coin? we know that fees will be higher

Yes, this is a very steep step on the part of the exchanges.They are already awash in money)) By their actions, the exchanges will attract even more clients using cryptocurrencies.

Yes, reducing the transaction costs that have been carried out by several exchanges is certainly very good, because given the large amount of fees imposed by the exchange will also make us overwhelmed when making transactions in any form of token.

Yeah this is a great news to all of us not only to the traders but to all of us who are using these exchanges as we can benefit a lower  withdrawal fee.

I just hope that other popular exchange will follow their lead so their users will become happy also as exchange is the main bridge for crypto users to easily convert their crypto assets into fiat and vice versa. Without them, the crypto users will have a problem on how they can convert their crypto assets into fiat which will lead to disaster in crypto world if it will happened.

if this is true, it looks like the exchanger also has a shortage of users, or this is their trick to attract new users. however, this is very good information for old users. in addition, the continual increase in crypto prices makes many people want to trade again. just curious, do they do this discount only in a certain time or forever?

I do not know the info, because I did not use the exchanger. but as far as I know, the value of 0.005 etherum for the etherum withdrawal fee is the same as the withdrawal fee on yobit. so I thought that was normal.

Well that is good news to traders in the top exchanges, they should reduce it because the prices of cryptocurrencies are increasing. I didn't notice the reduce of withdrawal fee because I always convert xrp when transferring my funds.

The problem is the volume in the exchange, if the volume in the exchange is genuine then there is no problem whatsoever even though they are flooded with money, only now there are several exchanges that often create fake volumes, so we must be careful in trusting an exchange.

This is indeed good news, maybe this is done because ETH prices have been rising lately and if they don't reduce fees it will become too expensive
I hope another exchange will do this soon

Not all of the exchange reduced withdrawal fees, some still have ridiculous fee, the best exchange that has lowest withdrawal fee is tradeogre, even bitcoin fee is just in few satoshis, I've never seen any other exchange compares to tradeogre

I didn't know why they charge a large amount for their user to withdraw or to send some assets. I think in the future the fee for every exchange will be calculated. If there is new exchange who ask a small amount for deposit that I will believe that the exchange will be visited by most people because this is will help them. If we keep this situation, So what is the difference between banks and cryptocurrencies? it will be the same. And this thing has happened to me, I have to withdraw my asset twice, firstly I must send them to my local exchange and then I have to withdraw it to money fiat, and the fee are really big and I didn't like it.

if you say the problem of the trading place is trading volume, then it is natural that there are many trading places that manipulate the trading volume so that it can make many new traders who will be interested in the exchange, it's better to be able to be careful to do trading on the exchange place.

currently I am still using the Binance exchange place and only trust the Binance exchange place that I can trust.

I also convert mine in XRP or LTC since it more cheaper and noticeable unlike in BTC that  the price is vividly shown. Just make sure that exchanges are secured even they have bigger fees as long as the support serves their purpose and we are able to use the exchange better and satisfied in their performance.

No, mate, it did not start from Binance, rather OKex was first. After oKex reduced the fee, Kucoin, and Binance followed them. I think many exchange already did this to stay in the competition. Because higher withdrawal fee really sucks and most of the trader doesn't like it  But now everyone in the crypto space is very happy!

Yes it's really good decision by top cryptocurrency exchanges to reduce withdrawal fee the deduction of ethereum withdrawal fee is really impressive as well there is no doubt that this is happened because of huge competition between top exchanges anyway this is absolutely a positive sign for cryptocurrency traders hopefully it will continue for a long time.

It also helps a lot of people who uses exchanges like a wallet. I know that is very dangerous and should be avoided at all costs, however some people do not want to just have a wallet installed on their computer, its usually downright tiresome to run a wallet on your computer all the time and when you want to cash out to fiat you will still have to send money to an exchange anyway.

So, if you do not hold too much money on exchanges and just use it as a way of getting paid, this just helped you like insane. Not everyone makes thousands of dollars per sale so whenever you sell something for 5-10 dollars, this helps you out by bringing the threshold of reasonable withdrawal amount by a lot. I used to withdraw when I had 50 bucks saved up, now I can probably do it for 20 or 30 dollars.

Yes I noticed it too and it's more than overwhelming, and that's also part of the reason these exchanges keeps beating others. Seriously charging more than enough for withdrawal isn't good and makes one to wonder if we are really ready for what the future holds. At the same time there are exchanges which are yet to reduce theirs, I withdrew from one today and the fee was still 0.01Eth. Lastly I like the way it is going among these exchanges at least it would make them more serious.

Cryptocurrency users are forced to register with a large number of exchanges, because some of the tokens are only traded in one or two minor exchanges. So bounty hunters need to create accounts in dozens of exchanges, so that they could convert some of their earnings to hard cash. And the exchanges were taking advantage of this and fleecing them. Now the bounty campaigns are a shadow of the former self and the number of users registering to smaller exchanges have decreased. As a result, the exchanges are now being forced to reduce their fees.

Honestly i am rare to use ETH when withdraw from exchange. But i think it is good especially if price of the coin keep increased. Means the exchanger really flexible when take withdrawal fees from their users and it is not stagnan.

That's really great news for traders. Probably it's happening because of increasing most of crypto asset values. Most valuable exchanges are realize that it's important to adjust between crypto and FIAT money value. But i don't understand then why still Hitbtc don't reduce their withdrawal fee (its extremely huge). :D :D What are they trying to proof actually.. ;D ;D

Yes, this is the main thing to see whether the exchange is trusted enough or not. Many exchanges did hold the user's big amount of withdrawal, even I heard Hitbtc did it many times when the user tried to withdraw the fund. But still, top exchanges should have reduced the fee long ago to make traders comfortable to withdraw their money, as the did now, so I think there will be no issue about withdrawing funds. It's better late than never.

For some of the big whales or big investors they might not noticed this or maybe they didn't care about this kind of reduced withdrawal fee however for the traders who doesn't have much cryptocurrency to trade (Like me lol) I think these new fee would really make us happy, however in my opinion i think i experienced a higher fee for bitcoin and the other coin have a low fee.

I didn't checked it yet but may i ask if they only reduced their fee in ethereum coin? or all of the coin as well including bitcoin?

This is good news but it might also help if they reduced the BTC withdraw fees as well which are generally disproportionate to a lot of alternatives making it much cheaper to withdraw funds using altcoins like Ethereum rather than Bitcoin itself

I usually use ETH to withdraw money because this is cheap and suitable for everyone here. At present, the reduction of fees is something that many people feel is necessary because if any exchange is cheap, there will be more investors participating. Personally, I am using Huobi and Binance because these two exchanges are very good and there are a lot of money making tools for traders.

Best alternative for the current period is to reduce fees, because trade accumulation and competition are starting to be high. maybe later it could be normal again after this phenomenon is finished. many well-known exchanges have collapsed because of regulations that burden users.

And i'm type of people who look cheaper coin, i think if there are Tron (TRX) on exchanges, i will use it because i am withdraw only small amount so different price wouldn't really affect me a lot.

Is this the effect of rising coin prices so that the withdrawal fee reduces by half by 50%? or is there another event so that this offer will be valid for a few months?
Of course I am happy to hear that a large exchange reduces the withdrawal fee by 50%. I hope it will be so long that there will be many withdrawals.

It's a welcome development especially at this time that market is in a good frenzy condition. I hope other exchange can also do this so it can be a uniform thing.

It was really a great decision from the top tier exchanges, because of withdrawal fee was very high, even I stopped withdrawing for every day as it took 7-8$ fee every time. But now they reduced it by 50%, so traders like me who doesn't feel exchange safe enough for storing coins, they will gladly withdraw after every profit!

I think every exchange will follow this great decision to keep their traders active otherwise traders will move on tho these exchanges, because there is no exchanges are better than Binance, Okex, Huobi! Kudos to OKEx team for taking this great decision at first which is making other exchange to follow the same path!

I think this is their way to attract traders to use their exchanges by lowering the withdrawal fee, but after looking at today's rate if the fee is 0.01 ETH I think it's quite large and therefore they lower it. Although maybe another effect is that transaction confirmation requires a little time.

That's right, because the average crypto market is currently in improved condition, and it would be very good if we want to make a few trades on tokens that are experiencing a price increase so far.

Same here I often use xrp everytime I withdraw in exchanges hence if the fee for alts transactions were reduced then its a good news especially for traders.

Well if the fees for top exchanges are now reduced its possible other not popular exchanges will do the same because of the competition.

I think its only a a matter of time and the fees will increase again, why? because it always does when bitcoin surge higher again, what do you think will happen if bitcoin hits 20,000$ and counting? the same thing happened in 2017 and transactions became a big pain for people

I don't even think if they wanna try to put the old bitcoin rate for WD fees again. They must adjust it with the current price of crypto or so many users will be going out from their service. I have noticed more exchanges have been doing it too.

Exactly, this decision has too many benefits for both users and exchanges, and first, we should talk about our benefits, we will feel more comfortable when we do not need to store on the exchange, no need to calculate too much for each withdrawal when the cost is low, and a small amount of money saved from this expense can sometimes create more opportunities for us. Ending our interests and looking at the benefits of exchanges, this decision will increase their trust in the community, this strategy is very attractive to many investors

I didn't notice but is good news. It would be nice to see on-chain exchanges like shapeshift do the same because their fees are high as hell.

I think they reduce their fees because the transaction fees amount goes back to normal (low fees), just remember how a couple of years ago the fees get fucked up and people end paying close to 0.001btc for each transaction. Those were hard times.

Traders will see that benefits and the exchange will surely benefits from this action. There's no need to store your assets inside the exchange as you can easily send it to your own wallets because of this action from the exchange lowering the fees. Coming from the side of exchange it's also a quick profits especially if most of their participants will withdraw from time to time, the bulk numbers of transactions will give them an easy to bank money.

Agree with you, in 2017 I saw most exchanges use this fee. And it makes it very difficult for many people to withdraw BTC to their wallets, until now those exchanges have reduced the withdrawal fees and I hope in the future it will be free if possible.

Binance is one of the top exchange until now. Also ETH transactions are easier because ETH gets confirmed much quickly as compared to bitcoins. Whenever I want to perform a urgent trade I always prefer to deposit funds via ETH or XRP and I never go for bitcoins because it really takes a long sometime to confirm the transaction. This is never something which we traders would need because we need instant transactions just not to miss the perfect price.

Minimum withdrawal fees would always be an important aspect to consider because it is what makes us lose some amount of funds and we do need to calculate the profits excluding the withdrawal fees. It would never be profitable to make smaller amount withdrawals from any such platforms.

There was a calculation about how people on binance make more money compared to everyone else who were doing trading in other exchanges. The idea was the fact that you could have done the exact same thing on some other platform but when you use BNB to spend your trading fee, you will be making more. So, even when there is a bigger withdrawal fee on binance compared to other places, you are basically making up for it by cutting down the trading fee if you are a constant trader.

If you are just looking to invest and that's it, it is still easier to find places that are cheaper to deposit/buy/withdraw and be done with it, but with the withdrawal fee now even lower at binance, there is even less reason to look for other places since they are also quite cheap as well.

if does then that is really a good news ,maybe they found out that the competition now from other exchange is that tight so they need to adjust to remain competitive specially these days that Bitcoin halving is coming and the investors are coming from here and there?
anyway what is important the benefits we all get from this actions,specially these Big exchange that usually gaining more and more trust as time goes by.

Too bad it's not the case for Bitcoin.

Most Bitcoin exchanges are currently charging around a 0.0005 BTC fee, or around $5+.

I think a lot of exchanges are beginning to batch ETH transactions together, similar to how exchanges began batching BTC transactions back in 2017.

A quick Google of the matter hasn't turned up any results, whereas the average network fee hasn't changed, so it must just be a batching thing.

yeah . they could be loosing now so they reduced their fees to attract costumers to come back  but infact the fees should climb up due to the current value of cryptos which are rising too  . 0.01 eth original fee was already high tho , so its fine that they reduced to 0.005 eth  .

 0.005 eth current rate now is like close to 1 usd if im not mistaken  , 1 usd is more okay to me because other platforms have a closer fees than this but atleast the transaction moves faster  .

this is great news. I was always very annoyed that I have to pay money for simply withdrawing my money from the exchange. the exchange must earn on commissions. I believe that the withdrawal commission should be removed at all, but the reducing is already good

I prefer converting my coins to coins with lowest fees like XRP, etc in order to withdraw from the exchange because usually BTC and ETH have higher fees. The bitcoin halving process is about to minimize the fees for bitcoins which would also minimize the fees for some other coins too. That would be something which we need because we really have to pay a lot hectic fees if we only need to withdraw bitcoins or ether.

I can notice few exchanges have lowered their withdrawal fees but yet there are few exchanges which have kept a fixed withdrawal rate and they do not change it no matter what the situations are. Huge amounts would not care for the withdrawal fees but for smaller amounts, fees could also eat up our profits.

Its just right for them to make adjustments on withdrawal fee yet price of btc and alts had increased significantly which means it wont really
be that right if they would still make it the same yet it would be a burden for all of their users of the platform yet the amount would really be big.
There would be lots of criticism if thats the case.Take a look for example like what happened on shitBTC (Hitbtc) or even with Yobit where their
withdrawals becomes permanent no matter what the condition of the market which do really sucks.

when shipping costs and trading costs are removed it will make the exchange place die because they will provide coins and provide security with very high facilities, so even if you have trading fees and shipping costs then leave it alone because it is for the development of the exchange and fees it cannot be erased at all exchange sites.

Exchanges usually look for ways to increase the trading fee for making more money, there is no logic to increase the withdrawal fee which will not attract the day traders. I prefer to withdraw the small altcoin rather than BTC due to the high fees(around ~0.0005 BTC).

This is a good news really at least users won't be wasting funds on fees, although I think it is in correlation to the price increase of ETH, whichever it is a good news. While these exchanges are taking neccessary steps and actions to ensure they remain on top others are still charging the usual withdrawal fee and don't care about it. This goes to show that there are exchanges who care for their users and others who doesn't. Lastly, the competition among these exchanges is a good one at least each will look for ways to offer better services which in turn benefits all and sundry.

Yes, this is really good news. This will help the exchanges to expand the circle of its clients. Even small traders who trade small amounts will be able to join them.

The beauty of this is, it accommodates everyone where small withdrawals won't really feel the impact. That is, imagine with the price increase in Eth and the withdrawal fee isn't reduced, users will find it hard withdrawing and to reduce such they might go for other coins with lesser fee. But however, most exchanges are still yet to adopt it, that is their withdrawal fee is still the same; thus I see it as only a hindrance to growth because instead of users to spend unnecessarily to withdraw from those types of exchanges they would rather go for those who reduced their price.